You’ve written that when it comes to corporate governance, one size does not fit all. What exactly do you mean by this?
New York business solutions, governance, restructuring & bankruptcy attorney Martin Bienenstock of Proskauer Rose explains how different companies require different kinds of governance.
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What I mean is every corporation has a different set of constituents. It has different shareholders. Some shareholders may want lots of risk, some may want low risk, some may have the intent that the company be in one business and not expand some may not. But beyond just the different shareholders and their objectives corporations have they make different products; they’re subject to different legal regimes. They are subject to different capital structures and needs for capital. They have different personnel, different personalities, different customer bases. So you have to tailor a corporation’s corporate governance to cater to the shareholder constituency it has and the framework it’s working within and they’re different for just about every corporation.